Markets are mixed... sentiments are mixed and conflicting... what's a trader to do?? Well... best solution is to understand "Price TA". That is... The net EVERYTHING "the market" knows, wants, hopes fears, speculates, etc... is priced into their decision to buy/sell/hold. The price charts of the markets reflect it. The "Why?" or "who is forcing the play?"... "what's behind it all?"... doesn't matter. Get a read on the price charts so that you know/see what PLAYERS ARE ACTUALLY DOING WITH THEIR MONEY (that's all that really counts, isn't it?).. and you'll have the upper hand. FWIW...
%% Exactly; for sure dont ''revenge trade''= the worst thing to do + the worst time to do it\anytime. And dont be to quick to get rid of an old trading rule by a leader. ''Don't quibble over quarter + miss the move'' = never grow$ old or out of date. Orgin = IBD founding father/ back in the old day$ when plenty of good stocks had a bid ask of $00.25 LOL/true
Some like to start learning a subject by defining and understanding the related terminology. In this case, you might follow that up with further exploration toward aspects of the discipline that resonate for you. You could start here... https://www.elitetrader.com/et/threads/interesting-search-terms.365486/page-6#post-5649074
%% READ a lot; + there's a certain amount of unknoWns/ VALE did far better after i got out of it I've still got it in some ETFs, so never say never/LOL Markets are mixed; if SPY keeeps closing oVer 200dma, maybe a new bull market uptrend; but [v] VALE is outperforming SPY by such a wide margin, surprises never cease.................
Yup, everything is already baked into price. By the time you realize what's happening, you're already left in the dust. Always shoot first and ask questions later.
I respectfully disagree. Price action is an attempt to decypher which way the market or instrument will move by reading the body language of bars. IMO, body language of bars method doesnt work, I've spent an enormous amount of time on this failed method. Firstly, 90% of traders fail. If you follow price action, you are following 90% of failing traders. If the majority use failed methods, failed indicators, follow dummy moves, follow spoofing trades, then you follow that, what is the result? If 90% are losers, it makes no sense doing what they are doing which is reading indicators or reading price action.
I respectfully disagree. While it's true 90% of traders fail, it's the other 10% that ultimately drives the market. If the 90% were the catalyst, they probably wouldn't be going broke.
Mick,are you able to define in short what your style consists of? Not to derail Scat but as an opposing style.
Hey Scat,I have been looking a bit closer at PA recently so thanks for an update. What was the name of your Q&A thread from years ago?I remember you discussed origins of your name at the beginning etc and then I remember finding it quite informative.In HOF threads I believe.